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of course his encounters with ben bernanke were legendary, historic. we'll talk to them coming up very shortly. lauren: it will be hard to get answers today because the fed is stuck in this really tough positions. we have to it figure out how to jump-start the economy, not just the stock market. let's go to nicole petallides at new york stock exchange. david: let's start, nicole. we start with fedex it was an extraordinary run-up. it was in the $100 range. it pulls back quite a bit. this is the biggest pullback since 2011? >> certainly is, the biggest pull back since 2011. concerns globally and also going to cut down what they're shipping over it asia. lauren: how is oracle looking ahead of their earnings release, nicole? >> we're watching oracle closely in the tax realm. we'll see whether or not they have earnings. [closing bell rings] david: best buy up another 5%. that stock can not be denied. as you her the bells are ringing on wall street. looks like the indexes are going to keep essentially where they were before and after ben bernanke began to t
of course his encounters with ben bernanke were legendary, historic. we'll talk to them coming up very shortly. lauren: it will be hard to get answers today because the fed is stuck in this really tough positions. we have to it figure out how to jump-start the economy, not just the stock market. let's go to nicole petallides at new york stock exchange. david: let's start, nicole. we start with fedex it was an extraordinary run-up. it was in the $100 range. it pulls back quite a bit. this is the...
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Mar 20, 2013
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this is more of the same we've got enfrom ben bernanke. still very dovish and i think we'll hear more about that from the press conference. lori: charles, last word. >> the big question is what happens in the market once the fed starts to hike rates. the last two rallies the market did pretty good. rally from 90 to 2000, the first time the fold hiked interest rates, the market pulled back 6%. proceeded to rally for 71 months and 220% from there. last rally, 2002 to 2007, after they hiked rates the first time, we pulled back 7%. turn around and rallied for another 40 months and another 44%. so people who think it is automatically over once the fed starts to hike rates may even be in for a surprise. lori: wow, you have some history. >> i have to study this stuff. >> eventually good news for the economy becomes becomes good news for stocks. >> at some point. that's when we get out of bizarro world. lori: on that note. thank you so much guys. rob morgan, former fed economist, stephen oliner. and. take your seat in the news conference. we'll ch
this is more of the same we've got enfrom ben bernanke. still very dovish and i think we'll hear more about that from the press conference. lori: charles, last word. >> the big question is what happens in the market once the fed starts to hike rates. the last two rallies the market did pretty good. rally from 90 to 2000, the first time the fold hiked interest rates, the market pulled back 6%. proceeded to rally for 71 months and 220% from there. last rally, 2002 to 2007, after they hiked...
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lation right paul krugman that going is the true inflation rate ben bernanke and once again i got to tell you if feels great to be a bit coin millionaire you know it's gone up almost fourteen hundred percent in the last year and i'm loving it because there's anonymity there's power you're taking a stance against the paper pushers like jamie diamond over at j.p. morgan and this is really this is the currency of the resistance. let's look over and back at the dow jones because that did hit an all time high and we look at charles and your man and his daily video podcast where he talks about this so that brings us to today's reality where the u.s. economy is in or a session in recession to find this declining after tax income year over year net of inflation and the u.s. stock market is percentage points from an all time. but u.s. company insiders know what's really going on going on so it's no surprise to me that insiders that u.s. companies have bought the least amount of shares in any one month and also that the ratio of insider selling is now fifty to one those numbers that's the most
lation right paul krugman that going is the true inflation rate ben bernanke and once again i got to tell you if feels great to be a bit coin millionaire you know it's gone up almost fourteen hundred percent in the last year and i'm loving it because there's anonymity there's power you're taking a stance against the paper pushers like jamie diamond over at j.p. morgan and this is really this is the currency of the resistance. let's look over and back at the dow jones because that did hit an all...
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we are just minutes away from ben bernanke's news conference. we have an all-star panel ready to break down all of the headlines for you. we have diane swan, chief economist, ken, mad money's jim cramer and guggenheim's scott minor. >> let's get a check on the markets prefed. the last few fed meetings certainly have followed a certain script, but we know that the economy has gotten better. the fed will have to at least address some of that data but now we also have a reflare-up in europe. right now the dow is up 44, nasdaq is up 18. the s&p is up 8. it's been a very narrow trading range market today, but, hey, post-fed you never know. >> you never know. let's get right to our panel. diane, it's always ladies first here on "street signs." are we in for any surprises today do you think? >> i think the key things to look for is the acknowledgment of a better economy, but also what next shoe could drop on fiscal drag. much of the income that was pulled into the end of 2012 is people hedged their taxes and it was spent in january and february which m
we are just minutes away from ben bernanke's news conference. we have an all-star panel ready to break down all of the headlines for you. we have diane swan, chief economist, ken, mad money's jim cramer and guggenheim's scott minor. >> let's get a check on the markets prefed. the last few fed meetings certainly have followed a certain script, but we know that the economy has gotten better. the fed will have to at least address some of that data but now we also have a reflare-up in europe....
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Mar 20, 2013
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ben bernanke is >>> ben bernanke is masterful. lots of people complained about him. i see there's nothing to complain about. he's doing the right thing. he doesn't want to repeat of 1937. i don't want one either. ial prous to >> good evening everyone and welcome in, this is "the kudlow report." obama arrives in israel to cement our relationship with our great allie and he and netanyahu must deal with series issues. president obama is said that the use of chemical weapon this is in syria would be a game-changer. quote unquote, now back here the markets get back to rally mode. but, did the fed-head ever so subtly indicate an every so slightly less easy posture? that is my take and we will debate it later on. here is something that investors and businesses and consumers do not want to hear, it's a new tax on the internet. even downloads from ituness, who thinks that is a good idea? not me, here is good news "the kudlow report" begins right now. president obama in israel for the first same in his presidency, securing the relations with the allie in the middle east, here
ben bernanke is >>> ben bernanke is masterful. lots of people complained about him. i see there's nothing to complain about. he's doing the right thing. he doesn't want to repeat of 1937. i don't want one either. ial prous to >> good evening everyone and welcome in, this is "the kudlow report." obama arrives in israel to cement our relationship with our great allie and he and netanyahu must deal with series issues. president obama is said that the use of chemical weapon...
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well many of them would have already failed so the answer is no but you know ben bernanke wasn't even being honest was senator warren of course he's not honest with anybody but on that particular issue he was disingenuous at best because when she is talking about that subsidy and it's hard to quantify exactly what it is but ben bernanke he acted as if the subsidy was there for the stockholders of the banks it's not the subsidy makes it easier for the banks to borrow money it makes it easier for the banks to attract depositors' who want to put their money in an institution that's too big to fail and if you've got more money than the f.d.i.c maximums you want to make sure you're in a bank that's going to get bailed out you don't want to take your chances on a smaller bank and so that does give the big banks an unfair advantage to attract customers and to borrow money and even if the banks fail the the depositors are still going to get bailed out this secured creditors are still going to get bailed out and ben bernanke you know was oblivious to that he focused on the stockholders but tha
well many of them would have already failed so the answer is no but you know ben bernanke wasn't even being honest was senator warren of course he's not honest with anybody but on that particular issue he was disingenuous at best because when she is talking about that subsidy and it's hard to quantify exactly what it is but ben bernanke he acted as if the subsidy was there for the stockholders of the banks it's not the subsidy makes it easier for the banks to borrow money it makes it easier for...
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Mar 21, 2013
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the same stimulus train thanks to ben bernanke. we heard that the qe program, $85 billion a month in mortgage and treasury purchase will remain for the foreseeable future. ben bernanke still keeping an eye out for potential negative effects from the policy. but so far he's promised the markets this will continue. in terms of the commentary around the dart, we did see adjustment lower on the growth forecasts. smament, ben bernanke is pointing to the fact that there has been some improvement in the likes of the housing market. the fiscal consolidation thanks to its playing out for the budget, this is going to have an impact in 2013 growth, 2.3% to 2.8% is the number we're looking at. this is down from 2.3% to 3%. just a small tweak there. 2.9% to #.4%. but the unemployment rate is interesting, too. we're seeing a little movement to the down side. 7.7% is what we've got in february. but the magic number is looking for is 6.5% and it seems we won't hit that level until 2015. bill, back to you. >> wow. so he said won't touch interest ra
the same stimulus train thanks to ben bernanke. we heard that the qe program, $85 billion a month in mortgage and treasury purchase will remain for the foreseeable future. ben bernanke still keeping an eye out for potential negative effects from the policy. but so far he's promised the markets this will continue. in terms of the commentary around the dart, we did see adjustment lower on the growth forecasts. smament, ben bernanke is pointing to the fact that there has been some improvement in...
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fed chair ben bernanke says easing money is here to stay. ubs chief economist with us on the economy, the market, and the fed next. ♪ ♪ lou: ben bernanke's federal reserve keeping money cheap, plentiful. chief economist for ubs will tell us whether this is sufficient magic for the market through the remainder of the year. let's take a look at what happened on wall street. today's talks are moving higher. investors expecting just the news that they received, the fed's standing fast, holding steady, helping -- keeping 85 billion a month into the markets in perpetuity. the dow up 56 points, but within 20 points of its all-time high setting a new intra-day record. the s&p up ten points coming within seven of its record high, the nasdaq up 25 them. the nasdaq still some 1800 points away from its all-time high close. over 3 billion shares traded on the big board. gold down $3.80 today, we'll update, interest rates moving slightly higher on the bond market's the treasury ten year holding up till 194. fed chairman ben bernanke warning monetary p
fed chair ben bernanke says easing money is here to stay. ubs chief economist with us on the economy, the market, and the fed next. ♪ ♪ lou: ben bernanke's federal reserve keeping money cheap, plentiful. chief economist for ubs will tell us whether this is sufficient magic for the market through the remainder of the year. let's take a look at what happened on wall street. today's talks are moving higher. investors expecting just the news that they received, the fed's standing fast, holding...
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Mar 4, 2013
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people like to criticize ben bernanke. the fed is doing the best they can. the two parents are monetary policy and fiscal policy. one parent is exceedingly lenient and generous with gifts of candy and toys and the other one is extremely stingy. >> that's congress and the president. isn't the fed bailing out the policymakers? >> at this point they are. and ben bernanke has said this in all of his testimony, can you, congress, please deal with your fiscal situation a little bit better than you are? and he doesn't want to see the austerity the way it's applied through sequestration. he made that clear through his testimony. he would like to see long-term deficit reduction, addresses social security and medicare which crushes us when the baby boom retires. but he doesn't want to see a lot of money come out it right now. >> in the face of all of this, david, what should we do with our money today? >> wow want to find places in this great big world of ours where the is being released. you want to own some japanese equities. secondly, is you want to look at mexico.
people like to criticize ben bernanke. the fed is doing the best they can. the two parents are monetary policy and fiscal policy. one parent is exceedingly lenient and generous with gifts of candy and toys and the other one is extremely stingy. >> that's congress and the president. isn't the fed bailing out the policymakers? >> at this point they are. and ben bernanke has said this in all of his testimony, can you, congress, please deal with your fiscal situation a little bit better...
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Mar 21, 2013
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fed chair ben bernanke says easing money is here to stay. ubs chief economist with us on the economy, the market, and the fed next. ♪ i'm lorenzo. i work for 47 different companies. well, technically i work for one. that company, the united states postal service®, works for thousands of home businesses. because at usps.com®, you can pay, print and have your packages picked up for free. i can even drop off free boxes. i wear a lot of hats. well, technically i wear one. the u.s. postal service®, no business too small. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. yes, it is. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capt
fed chair ben bernanke says easing money is here to stay. ubs chief economist with us on the economy, the market, and the fed next. ♪ i'm lorenzo. i work for 47 different companies. well, technically i work for one. that company, the united states postal service®, works for thousands of home businesses. because at usps.com®, you can pay, print and have your packages picked up for free. i can even drop off free boxes. i wear a lot of hats. well, technically i wear one. the u.s. postal...
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i say it is ben bernanke's rally. that's what i say. first let me spell out why it is not barack obama's rally. the president's policies, economic policies have failed to produce the growth and prosperity that we associate with big stock market gains. in the 50 months that he's been in the white house, economic growth has been a measly 2% a year. recently it's been much lower than that. the debt's exploding. unemployment has not been as high for so long in three generations. that is not the foundation for a dow record. so why am i calling it ben's rally? because he's been printing trillions of dollars. and some of that cash has found its way into stocks. also, that cash gusher has pushed interest rates way down. you buy a bond or a bank cd, and your reward, close to 0. you're being pushed into stocks because you are chasing a decent reward. it is ben bernanke's rally. but here's the problem, what happens when he quits printing? you think stocks would hold their high ground if he turns off the printing presses and a bond starts paying yo
i say it is ben bernanke's rally. that's what i say. first let me spell out why it is not barack obama's rally. the president's policies, economic policies have failed to produce the growth and prosperity that we associate with big stock market gains. in the 50 months that he's been in the white house, economic growth has been a measly 2% a year. recently it's been much lower than that. the debt's exploding. unemployment has not been as high for so long in three generations. that is not the...
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ben bernanke has said this in his testimony. can you, congress, please deal with your fiscal situation better than you are. he doesn't want to see the austerity the way it is being applied through sequester trags. he made it clear. he would like long-term deficit reduction that addresses social security and medicare which crushed us when the baby boom starts retiring. he doesn't want a lot of money coming out of the economy now. >> what should we do with your money today. >> you want to find places in this great big world where the tourniquet is released. you're going to have monetary and fiscal accelerator pressed to the floor in japan. you want to own japanese equities. secondly, you want to look at mexico. they are basically going to release the straight jacket they have had an the energy sector. that's why you're drillers. you can play it through mexican equities, the big u.s. drillers. you want to buy your u.s. global guerillas which we talked about which are the u.s. multinationals that sell at attractive valuations that h
ben bernanke has said this in his testimony. can you, congress, please deal with your fiscal situation better than you are. he doesn't want to see the austerity the way it is being applied through sequester trags. he made it clear. he would like long-term deficit reduction that addresses social security and medicare which crushed us when the baby boom starts retiring. he doesn't want a lot of money coming out of the economy now. >> what should we do with your money today. >> you...
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we'll hear what ben bernanke has to say. we'll take a question and answer period in london live when it happens. tracy: cyprus reaching a last minute deal on a $13 billion bailout avoiding the collapse of its banking system and a euro exit. when will banks be open and what happens next? our very own rich edson in nicosia, cyprus, with the latest. hey, rich. >> good afternoon. you're starting to hear about consequences around the world from the bank of international settlements. overseas lending and bank exposure to cyprus banks totaling $100 billion. as for the question when do banks reopen? tomorrow. all the banks except for the two involved here. the nation's first and second largest banks. the second largest bank, the poplar bank of cyprus will be resolved. its good assets, its insured deposits go to the largest bank where investors and large account holders take a haircut. we hit the streets earlier today it find out what folks actually think about this and the answers are mixed. >> for me the idea is to go out of the eu
we'll hear what ben bernanke has to say. we'll take a question and answer period in london live when it happens. tracy: cyprus reaching a last minute deal on a $13 billion bailout avoiding the collapse of its banking system and a euro exit. when will banks be open and what happens next? our very own rich edson in nicosia, cyprus, with the latest. hey, rich. >> good afternoon. you're starting to hear about consequences around the world from the bank of international settlements. overseas...
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it hasn't affected the stock market, because they're on ben bernanke happy pills. but it will affect interest rates. and i think one of the more interesting stories in the past few days is the drop in yields and the rally in the bond market. this is still another head wind. the possibility, slim, but the possibility of a shutdown added to the payroll tax hike, added to the sequester, on and on and on, i think this economy will be weaker. i think interest rates will stay surprisingly low. >> i think the markets at this point are giving some cover, if you will, to washington ineptitu ineptitude, don't you think, greg? if you had markets move like tarp, the bank bailout, when markets fell dramatically, suddenly they got priorities in washington. greg, yesterday we heard both the president and speaker boehner say they're already working to avoid a government shutdown at the end of the month. you don't sound like you have any real optimism that that's going to happen. >> well, i could give you a scenario. it's below 50%, where you have two dueling cr bills, continuing r
it hasn't affected the stock market, because they're on ben bernanke happy pills. but it will affect interest rates. and i think one of the more interesting stories in the past few days is the drop in yields and the rally in the bond market. this is still another head wind. the possibility, slim, but the possibility of a shutdown added to the payroll tax hike, added to the sequester, on and on and on, i think this economy will be weaker. i think interest rates will stay surprisingly low....
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the economy here in america so outside this bubble of new york city where they have the largest of ben bernanke these eighty five billion dollars keeping this economy afloat where construction is booming where the city is booming where record house prices continue outside of this matrix outside of this bubble we see american c. biggest monthly income drop in twenty years personal income decreased by five hundred five point five billion dollars in january or three point six percent compared to december on a cecily adjusted an annualized basis that's the most dramatic decline since january one thousand nine hundred three this is the icon be it monetary policy let's get rid of all the workers let's get rid of all the savers let's get rid of all the people all the breathers the eaters and just keep all the money for ourselves and trade bond with each other and bikes are five thousand times less price meanwhile the toshi in the bitcoin army is taking them on and these people days are numbered well and the other interesting thing is that the article then goes on to kind of. say here the brig
the economy here in america so outside this bubble of new york city where they have the largest of ben bernanke these eighty five billion dollars keeping this economy afloat where construction is booming where the city is booming where record house prices continue outside of this matrix outside of this bubble we see american c. biggest monthly income drop in twenty years personal income decreased by five hundred five point five billion dollars in january or three point six percent compared to...
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ben bernanke is saying the sequester triggered cuts. they could have cut at least half a point from the gdp for 2013. some are even saying it was the fed in the first place who helped push the dow to a record. interest rates still at record lows thanks to the fed's bond-buying program. that helped stimulate borrowing and job creating, and neil, today, the yield on this ten-year u.s. treasury note, while the dow hit an all-time high-was at 1.89%, and, neil, as i wrap this up, five stocks in the dow jones industrial average, we now know, hit all-time highs today. 3m-travelers, home depot, johnson & johnson and walt disney. there you have it. >> neil: all right. thank you very much. you heard her talking about the yield on a ten-year know. the yield from the s&p 500, a little north of 2%. why would you park your money in a treasurery and get that kind of a paltry yield when you could conservatively be looking at a 2% yield plus on the s&p 500. that's while they pay attention to that. but essentially the dow is back to where it was more tha
ben bernanke is saying the sequester triggered cuts. they could have cut at least half a point from the gdp for 2013. some are even saying it was the fed in the first place who helped push the dow to a record. interest rates still at record lows thanks to the fed's bond-buying program. that helped stimulate borrowing and job creating, and neil, today, the yield on this ten-year u.s. treasury note, while the dow hit an all-time high-was at 1.89%, and, neil, as i wrap this up, five stocks in the...
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chairman benjamin ben bernanke g the policy against those who think it needs defending. they said it's helping to boost growth around the world rejecting criticism it could lead to a currency war. joining us is drew, senior u.s. economist for ubs securities. drew, good to have you here. >> good to be here. >> reporter: does ben bernanke have to defend fed policy based on a market -- up about 10% on the dow? i mean, this is a good run, this year to date. >> it's been a good run. what he's worried about, though, is increasing level of concern about how the fed gets out; right? everyone loves to party when it's going. when the party ends, how badly does it end? lou: i'd put this to those concerned about the exit strategy for the fed. why not worry about that in 2015 and just walk our way through the cycle that we're in? what do you think of that? >> well, just like in 2003, excesses spilled over time. if we have a huge amount of rereceivers in the -- reserving in the banking system, the fed says, trust us, we'll drain the money when we need to, but when you drill down and i
chairman benjamin ben bernanke g the policy against those who think it needs defending. they said it's helping to boost growth around the world rejecting criticism it could lead to a currency war. joining us is drew, senior u.s. economist for ubs securities. drew, good to have you here. >> good to be here. >> reporter: does ben bernanke have to defend fed policy based on a market -- up about 10% on the dow? i mean, this is a good run, this year to date. >> it's been a good...
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they agree with jim cramer that ben bernanke is the master and the markets are the dogs. they're obedient. they have very little volatility. much of their movement isn't totally of their own devices. off the market have a smidge of volatility after it's all said and done. not a lot of movement. maybe the equities strength and that's really about it from the market. >> well, it's not it from the fed because ever this quick break and thanks a lot, rick, we are just minutes away from hearing from ben bernanke himself. you got the fleet, is it a fleet, a pod, a family of press reporters? >> a pride. >> a pride of press. thank you. waiting to hammer the fed chairman. or a gaggle. we're back right after this. thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history.
they agree with jim cramer that ben bernanke is the master and the markets are the dogs. they're obedient. they have very little volatility. much of their movement isn't totally of their own devices. off the market have a smidge of volatility after it's all said and done. not a lot of movement. maybe the equities strength and that's really about it from the market. >> well, it's not it from the fed because ever this quick break and thanks a lot, rick, we are just minutes away from hearing...
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because, you know, chairman ben bernanke commented on this yesterday. someone said to him, what about the downside risk of all of this easy money. and he said, look, there are no issues of inflation. we don't have any issues in terms of, you know, this free money so far. and in fact, it's been helpful to the economy. so, what is the downside risk? how does this end? >> well, this is the greatest and most perilous experiment in the history of paper money. every central bank in the world is doing approximately what the fed is doing. every central banker in the world, of any consequence, thinks what chairman bernanke thinks. they all have the same model, the same outlook, the same conceit about what they can know. the people who run the fed did not see the most obvious and disastrous excesses of credit and residential real estate when they were struck between the eyes with these excesses. now, chairman bernanke seems to sleep well. he has the most astonishing degree of serenity on his face, but insists he can see into the future and approve it before it ha
because, you know, chairman ben bernanke commented on this yesterday. someone said to him, what about the downside risk of all of this easy money. and he said, look, there are no issues of inflation. we don't have any issues in terms of, you know, this free money so far. and in fact, it's been helpful to the economy. so, what is the downside risk? how does this end? >> well, this is the greatest and most perilous experiment in the history of paper money. every central bank in the world is...
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first a word on fed chairman ben bernanke. he's speaking in london with mevvin king, outgoing head of the monetary policy committee there. he broadly supported all the global monetary policy easing for central banks around the world, say k effectively it was not currency. here's what he said. >> because stronger growth in each economy -- these policies are not -- rather they are positive sum enrich thiy neighbr actions. >> what he's saying is what japan is doing is okay. new york fed president bill dudley, he had some very strong words for critics of the federal reserve who say that the fed is potentially going to be losing money through its current quantitative easing policy. let's give a listen to his comments today at the new york economic club. >> the fed is a central bank, not an asset management company. our commitment is to our dual objectives. >> dudley added over the course of the entire cycle, the fed -- only seemed to have benefited the economy and increased benefits to the treasury. a couple other dovish comments.
first a word on fed chairman ben bernanke. he's speaking in london with mevvin king, outgoing head of the monetary policy committee there. he broadly supported all the global monetary policy easing for central banks around the world, say k effectively it was not currency. here's what he said. >> because stronger growth in each economy -- these policies are not -- rather they are positive sum enrich thiy neighbr actions. >> what he's saying is what japan is doing is okay. new york...
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ben bernanke and janet yellen, and otheres, are constantly arguing-- correct, i think-- but they tend to put the best face on it as they can, we still have effective policy instruments, we can stillgivehecony a boost. but you're talking in the desmalplace of the growth rate. there is nothing left in the fed's arsenal, i don't think that could as a half a point to the growth rate. that's not that much to. in the days, when the fed had a much fuller arsenal and it wasn't decompleted. >> rose: are you surprised i have had smart people here say it will be a long time before the u.s. economy gets back at a 4% growth rate? >> no, i'm not surprised weaw no sensof that-- at the very beginning of the recovery we got to some 4% numbers. we even hit a five but it got revised down. but it didn't last long, and frankly, we've had very few quarters since the early stages of this recovery that had a 3 evennals the first digit, never mind a four. so four looks like a big stretch, but you're right to use a number like that. in previous overseases, beating four-- recoveries beating four was considered
ben bernanke and janet yellen, and otheres, are constantly arguing-- correct, i think-- but they tend to put the best face on it as they can, we still have effective policy instruments, we can stillgivehecony a boost. but you're talking in the desmalplace of the growth rate. there is nothing left in the fed's arsenal, i don't think that could as a half a point to the growth rate. that's not that much to. in the days, when the fed had a much fuller arsenal and it wasn't decompleted. >>...
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Mar 3, 2013
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" i defended ben bernanke for printing money. wow. the federal reserve prints money? who knew? [laughter] this is why we have the federal reserve. this is what it's been doing since 1914 when it first came. but to a number of americans, this was kind of a revelation, it was big government, and you had these unelected people like bernanke and his colleagues doing all sorts of things that they didn't know they could do, all of which were perfectly legal, by the way. you had, as i mentioned earlier, the explosion of the deficit. americans have always at the lip service level -- b so when i say "always," i mean as long as we have polling data. this goes back at least to the '30s, and i'm sure it was true earlier than that -- thought deficit's evil, bad thing. it's bad to have a deficit. franklin roosevelt railed against the budget deficits of herbert hoover, for example. but if you look one level lower at the polling data, you also see that with a single exception of spending on international affairs, foreign aid, single exception, a
" i defended ben bernanke for printing money. wow. the federal reserve prints money? who knew? [laughter] this is why we have the federal reserve. this is what it's been doing since 1914 when it first came. but to a number of americans, this was kind of a revelation, it was big government, and you had these unelected people like bernanke and his colleagues doing all sorts of things that they didn't know they could do, all of which were perfectly legal, by the way. you had, as i mentioned...
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Mar 20, 2013
03/13
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will wall street like the message they get this afternoon from ben bernanke? fed policymakers concluding their latest two-day meeting just hours from now and under the new schedule the post-meeting policy statement will be issued around 2:00 p.m. eastern time and that will be followed by chairman bernanke's news conference a half hour later. it's cnbc's special coverage of the fed decision on interest rates begins at 1:50 p.m. eastern and that, jim, is the story of the day. forget cyprus for now, for a moment. >> right. >> if the fed will decide today whether this rally goes higher and takes that next leg or not, right? >> i think the fed got kind of unlucky in terms of events in that we've had this amazing flight callity on vequality on . it's obvious that interest rates are going higher. he's helpless of doing anything about it and he's got to find a way, and then we've had this incredible rally in treasurys and interest rates going down because of cyprus. what does he do? did he expect that pitch? this is a three-pointer by the bond guys that swooshed. >> t
will wall street like the message they get this afternoon from ben bernanke? fed policymakers concluding their latest two-day meeting just hours from now and under the new schedule the post-meeting policy statement will be issued around 2:00 p.m. eastern time and that will be followed by chairman bernanke's news conference a half hour later. it's cnbc's special coverage of the fed decision on interest rates begins at 1:50 p.m. eastern and that, jim, is the story of the day. forget cyprus for...
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Mar 11, 2013
03/13
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i actually trust ben bernanke, silly me. i say what's good for the economy is good for the stock market and good for corporate profits and good for you. which once again, we will hear about from a host of great american companies when they talk to us next week. let's go to denise in california, please. denise. >> caller: boo-yah. is this that sexy jim with a smoking hot body? >> no, no. this is a different jim. he's taken over that guy. >> caller: i have a question about petsmart. it's gone down since i bought it. and i know they offered poor guidance for the year. and also ross stores have gone down, too. should i buy more of each one? >> what did you start -- when you started you were talking about -- oh, never mind. you were discussing me. just trying to get the physique thing down. petsmart i actually think was an overreaction. i think it went down too much. ross stores was an overreaction. i think that went down too much. these stocks are now in the penalty box. we actually can't touch them until we see the next quarter
i actually trust ben bernanke, silly me. i say what's good for the economy is good for the stock market and good for corporate profits and good for you. which once again, we will hear about from a host of great american companies when they talk to us next week. let's go to denise in california, please. denise. >> caller: boo-yah. is this that sexy jim with a smoking hot body? >> no, no. this is a different jim. he's taken over that guy. >> caller: i have a question about...
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Mar 4, 2013
03/13
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this has been noted by chairman ben bernanke. if people could simply refinance at the market rate, as they are now, it would be literally, for the average homeowner, thousands of dollars a lower payment per year that would go straight into their pockets. it would be the equivalent of a 30-year tax cut for them of thousand dollars a year. that is substantial. it is not just pure stimulus. the incidents in the short run of spending the money for people who are massively liquidity restraint and hurting, trying to figure out how to pay their bills each month, that tends to be higher than for the banks currently sitting on reserves and for the mortgage owners. that could have a positive impact. >> you said a lot that was very interesting. you talk about the sequestration possibly cutting 1% of the growth rate. it was suggested it would be a certain amount, 2% and above. talk about that. we had a policy hearing the other day where the professor, a top economist, talked about the various subjects. he believes even a month of sequestrati
this has been noted by chairman ben bernanke. if people could simply refinance at the market rate, as they are now, it would be literally, for the average homeowner, thousands of dollars a lower payment per year that would go straight into their pockets. it would be the equivalent of a 30-year tax cut for them of thousand dollars a year. that is substantial. it is not just pure stimulus. the incidents in the short run of spending the money for people who are massively liquidity restraint and...
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Mar 24, 2013
03/13
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ben bernanke appears at the london school of economics. he will appear with the chief economist of the imf. on tuesday more housing news that will be released. the s&p k schiller home den index is out as well as the number of new homes sold last month. on thursday the third revision of the gross domestic product for the fourth quarter of last year. and good friday wraps up the week. banks will be open, but u.s. equity markets are closed on friday for good friday. >>> and saving your pennies when the hotel bill comes. trip adviser released the first index of room service affordability, comparing how much hotel travelers pay across the country for common incidentals. denver was the biggest deal. a combined cost of a club sandwich, a water, a coke and a mini bottle of vodka add up to $40.46 in the mile-high city. the same bill will run you more than $60 in honolulu, where a club sandwich tops $20 for that sandwich. at least in hawaii the sandwich comes with a view. that will do it for the show today. thank you so much for joining me. next wee
ben bernanke appears at the london school of economics. he will appear with the chief economist of the imf. on tuesday more housing news that will be released. the s&p k schiller home den index is out as well as the number of new homes sold last month. on thursday the third revision of the gross domestic product for the fourth quarter of last year. and good friday wraps up the week. banks will be open, but u.s. equity markets are closed on friday for good friday. >>> and saving...
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Mar 5, 2013
03/13
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i can't think of a better guy than ben bernanke to do it. but whether or not he'd be the president's selection and whether he not he wants to extend his term of public service would be very hard for me to judge. >> conventional wisdom and reporting to this point has been that he does not want to stick around. that he's had some long time there, obviously, real long days for a really long time there. can you foresee a circumstance and obviously you haven't talked to him about this but would you be described to hear him say if called to stay in office would you be skriesed to see him take another term? >> i don't know. as his friend i would tell him to get out of there, get back to princeton, start writing a book and bring some calm and semblance of order to his life. he didn't anticipate signing up for this. but the ben bernanke i know is an incredible public servant. in the depths of the crisis he delivered. and if the president were to put his arms on his shoulder and say your country needs you can't speculate whether the president would do
i can't think of a better guy than ben bernanke to do it. but whether or not he'd be the president's selection and whether he not he wants to extend his term of public service would be very hard for me to judge. >> conventional wisdom and reporting to this point has been that he does not want to stick around. that he's had some long time there, obviously, real long days for a really long time there. can you foresee a circumstance and obviously you haven't talked to him about this but...
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bernanke the are dumber than simple slime molds the solution. for president prime minister and the queen of the world only this single simple can get us out of this mess right stacy indeed max kaiser slime mold smarts and if you look at this this is the slime all navigating its way through a maze and it always finds the simplest straightest shortest route to the food now however if you return to the rest of the clip you find out that there are actually also able to create advance complicated civil engineering projects after scientists food in the relative position of major cities in urban areas slidell to accurately recreated the rail system of tokyo and the major roadways england canada were chicken and. i want to turn to this next headline genius george must go say backbenchers you see of course the headline is genius for a slime mold he's considered quite intelligent but if you look at the photo of him that they put with this article in the sunday times he does look a lot like a slime mold well members of george osborne's own party were last
bernanke the are dumber than simple slime molds the solution. for president prime minister and the queen of the world only this single simple can get us out of this mess right stacy indeed max kaiser slime mold smarts and if you look at this this is the slime all navigating its way through a maze and it always finds the simplest straightest shortest route to the food now however if you return to the rest of the clip you find out that there are actually also able to create advance complicated...
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Mar 21, 2013
03/13
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see, ben bernanke is a rigorous guy. he's a professor and a genuine scholar of american financial history. it's what he does best. he knows that in 1937 after three years of 12% economic growth that took unemployment from 25% down to 14%, the fed, the president, congress, declared victory over the great depression. ♪ hallelujah >> washington raised income taxes on the wealthy. >> boo! >> took the top marginal rate to the astounding 75% and instituted a 2% payroll tax for social security. their goal? they wanted to start trying to balance the budget because the president and treasury secretary were worried about the long term deficit? does that sound familiar? at the exact same time, the fed tightened rates, doing what all the bears say bernanke should do, betting that inflation could rage and rage easily if the fed stayed easy, which is what his critics are saying he should do right now. but when we went down this road in 1937 it sent the economy into an amazing tail spin. causing a recession within a depression. it wa
see, ben bernanke is a rigorous guy. he's a professor and a genuine scholar of american financial history. it's what he does best. he knows that in 1937 after three years of 12% economic growth that took unemployment from 25% down to 14%, the fed, the president, congress, declared victory over the great depression. ♪ hallelujah >> washington raised income taxes on the wealthy. >> boo! >> took the top marginal rate to the astounding 75% and instituted a 2% payroll tax for...
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Mar 21, 2013
03/13
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FBC
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they're not good forecasters all they ben bernanke is looking pretty good right now. the economy is picking up steam, no question about it. we're seeing really good stock market obviously. the one thing that i worry about,hat ben bernanke doesn't worry about, those esther george, the fed chief, that kansas city bank basically said we have to worry a little bit about inflation when we keep putting $80 billion into the economy every month. i agree with that concern. melissa: julia, what do you think about that. he was asked that question directly a number of times t was also in the statement. very mch shrugged it off. he basically said we could use a little bit more inflation right now? >> absolutely. >> he should shrug it off. i completely disagree with that. what the economy needs is employment and employment will lead to wage growth. then we can start worrying about inflation the adpri -- agree with earn about key the bigger risk they pull back too early and once again we see momentum slip away. this is a fragile recovery the upside of them being wrong so often that
they're not good forecasters all they ben bernanke is looking pretty good right now. the economy is picking up steam, no question about it. we're seeing really good stock market obviously. the one thing that i worry about,hat ben bernanke doesn't worry about, those esther george, the fed chief, that kansas city bank basically said we have to worry a little bit about inflation when we keep putting $80 billion into the economy every month. i agree with that concern. melissa: julia, what do you...
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Mar 21, 2013
03/13
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dan, weigh in on that. >> i know we're talking about your views of ben bernanke right now. jimmy p. deserves credit. he's been writing a lot on this longer than right-leaning economists have been saying. i am a nominal gdp targeter. the one major criticism of our viewpoint is it's nearly impossible to target nominal gdp. and that's where the nominal gdp futures market comes in. >> ever since the market went haywire, that's why i like to use a basket of currencies and commodities, including gold. >> we should come back and have a longer discussion. >> i am impressed with the following. this is the reason why i've rethought my position. i'm not totally convinced of market monitoring. but the inflation that many of worry about has not come about. that's point number one. point number two, gold stopped rising quite a while ago and has been very steady at around $1,600. i'm es preimpressed with that a impressed with the fact that the dollar, king dollar has stabilized. that's why i wrote my column. i'm thrilled an important web site like business insider picked it up. jimmy p., you've be
dan, weigh in on that. >> i know we're talking about your views of ben bernanke right now. jimmy p. deserves credit. he's been writing a lot on this longer than right-leaning economists have been saying. i am a nominal gdp targeter. the one major criticism of our viewpoint is it's nearly impossible to target nominal gdp. and that's where the nominal gdp futures market comes in. >> ever since the market went haywire, that's why i like to use a basket of currencies and commodities,...
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Mar 25, 2013
03/13
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liz: they're reserve chairman ben bernanke getting their royal treatment. he answers questions in london. concern about europe and its impact your account. peter barnes has the story. david: what he did not have to wrap hail a taxi or pay high fees for a town park. instead you click an application and share the car with somebody else next up, the plan to take on the taxi industry. ♪ it's monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper ave
liz: they're reserve chairman ben bernanke getting their royal treatment. he answers questions in london. concern about europe and its impact your account. peter barnes has the story. david: what he did not have to wrap hail a taxi or pay high fees for a town park. instead you click an application and share the car with somebody else next up, the plan to take on the taxi industry. ♪ it's monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology...
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Mar 12, 2013
03/13
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FBC
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ben bernanke and company end qe but then what? the ceo of fifth street finance shows you where to put money now for when it happens. and the famed cleveland clinic coming to a town near you? first on fox business, cleveland clinic ceo on how the platinum standard in healthcare is teaming up with hospital chain community health systems. countdown to the closing bell starts right now. liz: good afternoon everybody. i'm liz claman. it is the last hour of trading. and you know what? we are seeing something we haven't seen on the screen in more than a week. a lot of red. not deep, deep red, but defin e definitely red. earlier this morning up 31 points, best levels of the session, the dow started to pull back and you can see the s&p has followed down a third of a percent. all-time high level we're looking at is 1565, 15 points away from that right now. the nasdaq is lower by 16 points or half percent. tech stocks are really among the day's worst performers. they are led by apple, jeffries cutting its price target on apple to $420 a shar
ben bernanke and company end qe but then what? the ceo of fifth street finance shows you where to put money now for when it happens. and the famed cleveland clinic coming to a town near you? first on fox business, cleveland clinic ceo on how the platinum standard in healthcare is teaming up with hospital chain community health systems. countdown to the closing bell starts right now. liz: good afternoon everybody. i'm liz claman. it is the last hour of trading. and you know what? we are seeing...
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bernanke has been saying lately ben bernanke is saying we're going to keep engaging in quantitative easing until that unemployment rate gets down to six and a half percent and as you are describing here the conditions for wages are such given the constraints on both the ecological front and on the credit front and don't seem to be going forward in any material way in reminds me of what milton friedman said a while back while he was still alive that there is no connection between monetary policy and employment so what is better now thank you talking about when he says we're going to keep the quantitative easing spigot open until unemployment gets down to six knap percent i thought is that make any sense to you. well i guess what he's saying is we're going to keep it open indefinitely you know we're all going to be in a race to the bottom and see how much. we can buy back ourselves but you know at some point this is just an unsustainable game there doesn't make any sense going forward if you were let's say running the central bank what would be one or two policies are running the the
bernanke has been saying lately ben bernanke is saying we're going to keep engaging in quantitative easing until that unemployment rate gets down to six and a half percent and as you are describing here the conditions for wages are such given the constraints on both the ecological front and on the credit front and don't seem to be going forward in any material way in reminds me of what milton friedman said a while back while he was still alive that there is no connection between monetary policy...
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Mar 28, 2013
03/13
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FBC
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i think ben bernanke is creating a whole bunch of problems. melissa: a bubble. >> definitely creating a bubble. we're enjoying it. we're making money. we'll get out when the bubble pops but i think for a lot of individual investors out there it will be a mess at some point. melissa: lance, weigh in. >> well, absolutely. milton friedman would have said the perversion in corporate profitability we have, we have very high profitability relative to wages. he would be rolling over in his grave had he seen what is going on now. you have 85% correlation between the stocks and fed balance sheet. that's it. that is driving the market right now. it is not economics. it is not wages. profitability is starting to stagnate and roll over for corporations. there is your worry line. melissa: great debate. thanks for coming on. i hope you come back. >> thank you. melissa: restaurants, once obamacare's fiercest critics. some are suddenly singing a very different tune. companies like chipolte and wendy's are slicing estimates for what obamacare will cost them. s
i think ben bernanke is creating a whole bunch of problems. melissa: a bubble. >> definitely creating a bubble. we're enjoying it. we're making money. we'll get out when the bubble pops but i think for a lot of individual investors out there it will be a mess at some point. melissa: lance, weigh in. >> well, absolutely. milton friedman would have said the perversion in corporate profitability we have, we have very high profitability relative to wages. he would be rolling over in his...